The Naval Institute Foundation Inc
The Naval Institute Foundation was organized to operate exclusively to raise funds for charitable and educational purposes to further the mission and policies of the united states naval institute.
The Naval Institute Foundation Inc at a glance
In short: The Naval Institute Foundation Inc gave $4.0M across 1 grant in 2025 (avg $4.0M), mostly in Maryland. Source: 2025 IRS Form 990.
- Annual giving (2025)
- $3,984,117
- +21.9% vs 2024
- Grants made (2025)
- 1
- +0.0% vs 2024
- Average grant
- $3,984,117
- +21.9% vs 2024
- Median grant
- $3,984,117
- Total assets
- $24,511,866
- +66.4% vs 2024
- Primary geography
- Maryland (100% of itemized 2025 grant dollars)
- Latest 990 filing
- Form 990, 2025 View filing
Data from IRS Form 990, 2025; updated September 2026.
Who The Naval Institute Foundation Inc funds
How this funder distributes its grants
Top Recipients
Top recipient in 2025
The largest 2025 recipient was United States Naval Institute ($4.0M).
Grant Size Distribution
5 grants across all recorded years
The most common grant size was in the $1–5M range: 4 grants of 5 (80%).
Geographic Focus
Where this funder awards grants
Grant Distribution by State
Share of the 2025 grant dollars on its one itemized grant.
States
Cities
How The Naval Institute Foundation Inc gives
- Giving held roughly steady from 2022 to 2025 (−3%). Method
From the foundation's IRS Form 990 filings. Methodology.
Giving History
Giving Over Time
Total grant dollars and number of grants per year
From 2019 to 2025, annual grant giving ranged from $3.3M (2024) to $17.5M (2020). In 2025 it made 1 grant totaling $4.0M.
Grants by year
Grant recipients and amounts by year
| Recipient | Purpose | Amount |
|---|---|---|
| United States Naval Institute Annapolis, MD | To advance professional, literary, and scientific understanding of sea power. | $3,984,117 |
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Financial History
Multi-year comparison from IRS filings
| Filing year | Total Assets | Revenue | Expenses | Grants paid | Grants | Net Investment Income |
|---|---|---|---|---|---|---|
| 2025 | $24,511,866 | $14,444,826 | $5,429,686 | $3,984,117 | 1 | $302,683 |
| 2024 | $14,727,671 | $6,120,881 | $4,801,914 | $3,267,311 | 1 | $225,512 |
| 2023 | $11,834,384 | $9,412,802 | $5,200,662 | $3,496,650 | 1 | $168,766 |
| 2022 | $13,167,023 | $5,073,698 | $5,558,232 | $4,122,780 | 1 | $109,157 |
| 2021 | $16,478,320 | $8,459,950 | $15,378,539 | $13,988,933 | 1 | $112,136 |
| 2020 | $14,182,062 | $6,051,865 | $18,580,025 | $17,455,257 | 1 | $151,086 |
| 2019 | $27,448,325 | $9,775,538 | $8,299,571 | $6,975,191 | 1 | $-198,237 |
About The Naval Institute Foundation Inc
Based on IRS filings
The Naval Institute Foundation Inc is a public charity, based in Annapolis, MD. IRS filing data is available from 2019 through 2025. As of 2025, the organization holds $24.5M in total assets. In 2025, it awarded 1 grant totaling $4.0M. Net investment income was $303K.
Leadership & Key People
Officers and directors from IRS filings
The Naval Institute Foundation Inc is led by Radm Raymond A. Spicer Usn Ret, CEO, Director & Director since 2023 (on filings since 2019); none of the 14 officers listed in 2025 report compensation.
Officers on the 2025 filing
Radm Raymond A. Spicer Usn Ret
CEO, Director & Director
Director → CEO, Director & Director, 2023
On filings since 2019
10 hrs/week
No compensation reported
Gen Peter Pace Usmc Ret
Chairman & Director
On filings since 2019
2 hrs/week
No compensation reported
Cdr Gregory E. Glaros Usn Ret
Director
On filings since 2019
1 hr/week
No compensation reported
Heather Lancaster
COO, Secretary & Director
On filings since 2019
35 hrs/week
No compensation reported
Michael M. Wiseman Esq.
Vice Chairman & Director
On filings since 2019
1 hr/week
No compensation reported
Stephen M. Waters
Director
On filings since 2019
1 hr/week
No compensation reported
Dirk P. Mosis
Director
On filings since 2023
1 hr/week
No compensation reported
Jane Clayton Johnson
Director
On filings since 2023
1 hr/week
No compensation reported
Martin J. Bollinger
Director
On filings since 2023
1 hr/week
No compensation reported
Michael J. Salvato
Director
On filings since 2023
1 hr/week
No compensation reported
John Majoras
Director
On filings since 2024
1 hr/week
No compensation reported
Mel Immergut
Director - Board Liaison
Director - Board Liason → Director - Board Liaison, 2025
On filings since 2024
1 hr/week
No compensation reported
Douglas Wallen
Treasurer
On filings since 2019
8 hrs/week
No compensation reported
Meg Mackin
Acting COO
New on the 2025 filing
35 hrs/week
No compensation reported
Former officers (3)
- Former: Adm Jonathan Greenert Usn Ret (2019–2024) — Director - Board Liaison
- Former: Vadm Peter H. Daly Usn Ret (2019–2024) — Former CEO & Consultant
- Former: Marti Tomson Rodamaker (2019–2023) — Director
Data from IRS Form 990 filings, 2019–2025. "On filings since" is the earliest filing we hold that lists the person; hours are average hours per week as reported.
Frequently asked questions about The Naval Institute Foundation Inc
How much does The Naval Institute Foundation Inc give each year?
The Naval Institute Foundation Inc gave $4.0M across 1 grant in 2025, according to its 2025 IRS Form 990. In 2024 it gave $3.3M across 1 grant.
How large is The Naval Institute Foundation Inc?
The Naval Institute Foundation Inc reported $24.5M in total assets on its 2025 IRS Form 990. Its revenue that year was $14.4M.
Where does The Naval Institute Foundation Inc operate?
The Naval Institute Foundation Inc has awarded grants in Maryland.
What is The Naval Institute Foundation Inc's EIN?
The Naval Institute Foundation Inc's EIN (Employer Identification Number) is 52-1814344. IRS Form 990 filing data is available on this page for 2019–2025.
Data last updated September 2026. Sourced from IRS Form 990 filings.
Data update history
(8)
When this profile's IRS filing data changed on Grantable
- Updated Form 990 for fiscal year 2020 (received by the IRS May 17, 2021)
- Updated Form 990 for fiscal year 2021 (received by the IRS May 15, 2022)
- Updated Form 990 for fiscal year 2022 (received by the IRS May 15, 2023)
- Updated Form 990 for fiscal year 2023 (received by the IRS May 13, 2024)
- Updated Form 990 for fiscal year 2024 (received by the IRS May 6, 2025)
- Added Form 990 for fiscal year 2019 (received by the IRS June 10, 2020)
- Added Form 990 for fiscal year 2025 (received by the IRS May 13, 2026)
- IRS filings on file for fiscal years 2020–2024
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